Apartment-building prices Hamburg
The Hamburg market for multi-family homes offers attractive investment opportunities. Learn more about the development of prices and rental yields. Download our market report for free or contact our local experts.
How many multi-family homes are sold annually in Hamburg?
To evaluate market activity, a look at sales and turnover is crucial. A property sale is also referred to as a transaction. The transaction volume quantifies the purchase price paid for all properties sold within a specific period. The following chart shows how many multi-family homes were sold in Hamburg in recent years and the respective transaction volume.
Trend of transactions* in Hamburg
What are the average residential rents in Hamburg?
The quoted rent is the net cold rent as found in apartment advertisements. The statistics for quoted rents do not include figures from existing tenancy agreements, but only from new contracts. The evaluation of quoted rents is based exclusively on online apartment advertisements. The chart below (left) shows the average amount a tenant in a Hamburg multi-family home would have to pay per square meter, excluding service charges. You can also see (right) how many apartments were offered in both existing and new buildings. Below, a table shows the average quoted rents for existing apartments by sub-district.
Trend of the average quoted rent
Trend in the number of rental listings
Average quoted rent for existing apartments by sub-district*
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Sources: VALUE Marktdatenbank, Engel & Völkers Commercial
* Only Neighborhoods with at least ten offers are listed.
How are prices and multipliers developing in Hamburg's residential locations?
The value of an investment property is significantly determined by its residential location, with a distinction made between prime, very good, good, and basic locations. These boundaries are often granular and do not always coincide with administrative districts. In some cases, a single street determines the classification. The evaluation is based on indicators such as building condition, streetscape, and infrastructure. Note*: A detailed map of Hamburg's residential locations can be found in the market report. The following charts illustrate the ranges of purchase prices and purchase price multipliers in Hamburg. The latter indicates the payback period: for example, a multiplier of 20 corresponds to a rental yield of 5%. Generally, a lower multiplier means a higher rental yield.
Reporting Year
Range of purchase prices in EUR/m² by location
Range of factors by location
* You can find a map showing all residential areas in Hamburg in the market report.
How is the Hamburg market for multi-family homes developing?
The Hamburg market for residential and commercial buildings has completed its transition phase and is showing increasing movement after two years of restraint. This makes the city an ideal environment for real estate investment, as structural housing shortages combined with moderate prices compared to other European cities offer long-term stability. Current investment property strategies focus increasingly on substance and operational value creation rather than purely market-driven trends. With an average offer rent of 16.25 EUR/m² and a very low vacancy rate of 0.3 % , multi-family homes in Hamburg remain highly attractive for long-term investors.
Population (2025)
1.864.953
Buying power p.c. (2025)
29.091 €
Completed Units (2024)
8.319 Apartments
Vacancy rate (2024)
0.3 %
Ø-quoted rent (Q1 2026)
16.25 €/m²
Source: empirica regio, Statistische Ämter des Bundes und der Länder, Nexiga, Destatis, CBRE-empirica-Leerstandsindex, VALUE Marktdatenbank, Engel & Völkers Commercial
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Find multi-family homes in Hamburg
Discover available multi-family assets in Hamburg. Many investment properties are marketed discreetly and are not listed publicly, so please contact our local advisors for more information.
